How much does renting a home really cost?
Your monthly rent may not be the only thing you have to budget for. Be sure to factor in all of the potential costs when planning to rent.
The cost of applying for and paying for background and credit repayment history.
equal to one or two months rent. You’ll be expected to have this money ready when you sign the lease.
Pet deposit & fee:
If you have a pet, you may have to pay a pet deposit. Alternatively, some landlords may charge a monthly fee for you to keep your pet.
Agent/Broker fee: If you used an agent/broker to help you find your rental, you may be responsible for the broker’s fee.
Utilities include things like electricity, gas, water, cable, and Internet. Some or all of the utilities may be included in your rent.
Whatever you do, don’t skip renter’s insurance! For a relatively low monthly cost, you can insure all of your belongings in your home. In case of a fire or other catastrophe, you’ll be glad to have the financial help to replace your furniture, clothing, computers, TVs and other high-cost items.
More common in densely populated areas, the cost of a monthly parking spot can add significantly to your monthly housing cost.
Some rental communities charge for amenities such as an on-site gym or pool. You’ll be charged whether or not you use these amenities.
If you rent a single-family home or townhome, you’ll be responsible for the upkeep of the yard, and may choose to pay someone else to mow and manicure your lot.
If you have to move more than once within a few years, those moving costs can really add up.
Tony Clark Realtors believes every client should feel confident when buying, selling, and renting a home. Since 1976, we are the Owensboro Kentucky market expert.
Tony Clark Realtors | 2934 Frederica Street Owensboro, Kentucky | (270) 683-SOLD